A report by Bloomberg New Energy Finance and Ernst & Young forecasts that South Korea’s emissions trading scheme (ETS) could reach the penalty level of $90 per tonne of CO2 – exceeding that of any other ETS in the world.
According to the authors the high prices expected from the Korean scheme come down to three factors: 1) ambitious emission reduction targets ( 30% below business-as-usual (BAU) emissions in 2020 applied proportionately to the sectors covered by the Korean ETS or equivalent to a 19% reduction from 2010 levels);..............................................Full Article: Source